1. (a) In this article:
2. (1) Acceptor means a drawee who has accepted a draft.
3. (2) Drawee means a person ordered in a draft to make payment.
4. (3) Drawer means a person who signs or is identified in a draft as a person ordering payment.
5. (4) Good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing.
6. (5) Maker means a person who signs or is identified in a note as a person undertaking to pay.
7. (6) Order means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay.
8. (7) Ordinary care in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this article or article 4 of this title.
9. (8) Party means a party to an instrument.
10. (9) Promise means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation.
11. (10) Prove with respect to a fact means to meet the burden of establishing the fact (section 4-1-201 (b)(8)).
12. (11) Remitter means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser.

13. (b) Other definitions applying to this article and the sections in which they appear are:

    AcceptanceSection 4-3-409

    Accommodated partySection 4-3-419

    Accommodation partySection 4-3-419

    AlterationSection 4-3-407

    Anomalous indorsementSection 4-3-205

    Blank indorsementSection 4-3-205

    Cashier's checkSection 4-3-104

    Certificate of depositSection 4-3-104

    Certified checkSection 4-3-409

    CheckSection 4-3-104

    ConsiderationSection 4-3-303

    Demand draftSection 4-3-104

    DraftSection 4-3-104

    Holder in due courseSection 4-3-302

    Incomplete instrumentSection 4-3-115

    IndorsementSection 4-3-204

    IndorserSection 4-3-204

    InstrumentSection 4-3-104

    IssueSection 4-3-105

    IssuerSection 4-3-105

    Negotiable instrumentSection 4-3-104

    NegotiationSection 4-3-201

    NoteSection 4-3-104

    Payable at a definite timeSection 4-3-108

    Payable on demandSection 4-3-108

    Payable to bearerSection 4-3-109

    Payable to orderSection 4-3-109

    PaymentSection 4-3-602

    Person entitled to enforceSection 4-3-301

    PresentmentSection 4-3-501

    ReacquisitionSection 4-3-207

    Special indorsementSection 4-3-205

    Teller's checkSection 4-3-104

    Transfer of instrumentSection 4-3-203

    Traveler's checkSection 4-3-104

    ValueSection 4-3-303

14. (c) The following definitions in other articles apply to this article:

    BankSection 4-4-105

    Banking daySection 4-4-104

    Clearing houseSection 4-4-104

    Collecting bankSection 4-4-105

    Depositary bankSection 4-4-105

    Documentary draftSection 4-4-104

    Intermediary bankSection 4-4-105

    ItemSection 4-4-104

    Payor bankSection 4-4-105

    Suspends paymentsSection 4-4-104

15. (d) In addition, article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.

Source: L. 94: Entire article R&RE, p. 840, § 1, effective January 1, 1995. L. 2001: (b) amended, p. 865, § 2, effective August 8. L. 2006: (a)(10) amended, p. 496, § 25, effective September 1.

Editor's note: This section is similar to former § 4-3-102 as it existed prior to 1994.

Cross references: For the legislative declaration contained in the 2001 act amending subsection (b), see section 1 of chapter 244, Session Laws of Colorado 2001.